The project, which will be part of Allen Plaza, will feature 237 hotel rooms, 76 luxury condominiums and 10,000 sf of meeting space. The project will also feature the city's first hotel-topped heliport to transport guests. Construction on the foundation and parking deck underneath the structure has already begun with work on the tower expected to begin in the first quarter 2007. The project is expected to be completed in 2008.

"The resurgence taking place Downtown is exciting and we want to be a part of the momentum," says Starwood Hotels CEO Steven Heyer, in a released statement. "Allen Plaza is a superb location and we feel the area is primed for the first-class hotel and living accommodations we will provide."

Pickard Chilton Architects is designing the building with floor-to-ceiling glass and an outdoor terrace. Toronto-based BurdiFilek Interior Design is designing the interior spaces, including the condominiums. Coldwell Banker the Condo Store will market and sell the condominiums. Owners of the condominium units will have access to the hotel amenities, such as the pool, spa and fitness center.

This is the second W Hotel project announced for Atlanta in recent weeks. A joint venture of locally based Noble Investment Group and Boston-based AEW Capital Management LP acquired the 467-room Sheraton Colony Square hotel in Midtown for $48.5 million. Following a $50-million renovation, the landmark hotel will be converted into a W Atlanta-Midtown in late 2007.

Barry Real Estate Cos. founder and chairman Hal Berry tells GlobeSt.com that developers are not concerned about oversaturation of W hotels. Due to the addition of attractions such as the Georgia Aquarium and the World of Coca-Cola and other factors, the Atlanta hotel market has been surging. "As opposed to an older building that's being converted, this is a new hotel. It's very much a today hotel," Berry says, who adds that he plans to purchase a condominium in the project.

Allen Plaza is a more than $1-billion mixed-use development at the confluence of the Downtown Connector, Ivan Allen Jr. Boulevard, Williams and Spring streets.